Herding mutual funds
Witrynagap. Using information from the NSAR form filings by mutual funds, we test how managerial behavior (herding as well as risk taking) is affected by the incentives in the compensation structure as defined in the advisory contract. The mutual fund industry provides an ideal test setting as it allows us to observe on a regular basis managers’ … Witrynamutual funds herd, and that their herding behavior is stronger in down in markets relative to up markets. Our results complement those in Popescu and Xu (2014), who find similar evidence using aggregated mutual fund data. Second, our study contributes to the literature that examines the motivation behind
Herding mutual funds
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WitrynaR. Stoll (1972) examined the tendency of mutual funds and bank trusts to buy and sell the same stocks at the same time but did not find evidence of herding beyond that … Witryna1 dzień temu · Van Eck Associates Corp. has disbanded the team for its planned China mutual fund business, becoming the latest global firm to retreat from the 27 trillion …
Witrynathe LSV measure to 20 years of US mutual fund data and finds substantial herding by US mutual funds, but little variation in the herding level with the number of … WitrynaFrench mutual funds market has a herding intensity between 6% and 20%. Using the staof ndard LSV measure, we establish that herding by French mutual funds is higher than reported in other that empirical studies on the US and UK stock markets. However, it is quite similar to the herding level obtained for the German case.
Witryna7 mar 2024 · The authors look at the link between mutual fund herding behavior and performance. Differences in herding tendency across mutual funds are shown to … Witryna1 lis 2024 · I develop fund-level measures of the similarity in trading of mutual fund managers, resulting in the identification of leaders, contemporaneously herding managers, and followers. I find evidence of a persistent group of funds whose trades lead the aggregate trades of the mutual fund industry; these leader funds exhibit …
Witryna1 sie 2010 · portfolio performance and herding: a study of mutual fund b eha vior’, American Economic R eview 85 , 1088–1105. Haigh, M., Boyd, N. & Buyuksahin, B. (2006), ‘Herding amongst hedge funds in
WitrynaAn examination of herding behaviour of the Chinese mutual funds: A time-varying perspective. Tingting Cheng, Shuo Xing and Wenying Yao. 1 Sep 2024 Pacific-Basin … tmh credit union activate cardWitrynaInternational Monetary Fund, 2014. "Mexico: Selected Issues," IMF Staff Country Reports 2014/320, International Monetary Fund. Cheng, Tingting & Xing, Shuo & Yao, Wenying, 2024. "An examination of herding behaviour of the Chinese mutual funds: A time-varying perspective," Pacific-Basin Finance Journal, Elsevier, vol. 74(C). tmh crawfordvilleWitryna17 gru 2002 · Although we find little herding by mutual funds in the average stock, we find much higher levels in trades of small stocks and in trading by growth-oriented … tmh customer portalWitryna2 dni temu · Daniel Sotiroff. Apr 11, 2024. Converting mutual funds to exchange-traded funds has become a growing trend in the investment industry over the past two years. More than three dozen of these ... tmh discountsWitryna1 cze 2024 · This paper investigates institutional herding behaviours in the U.S. Treasury market. We find that the level of herding is higher for bonds with a longer time to maturity and this pattern is significant only for buy herding, not sell herding. This term structure of herding is stronger for funds with a shorter investment horizon. tmh cycleWitrynaOur most important finding is that mutual fund herding impacts stock prices to a much larger degree during our sample period (1994 to 2003) than during prior-studied … tmh data breachWitryna17 maj 2006 · This paper analyses the trading activity of German mutual funds in the 1998–2002 period to investigate whether German mutual fund managers are engaged in herding behaviour. Another objective of the study is to determine the impact of this herd-like trading on stock prices. Our results provide evidence of herding and positive … tmh derbyshire